Celgene Corporation (CELG) Given “Outperform” Rating at William Blair
Several other research firms have also commented on CELG. Morgan Stanley lowered shares of Celgene Corporation from an equal weight rating to an underweight rating and set a $120.00 price objective for the company. in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a buy rating and issued a $173.00 price objective on shares of Celgene Corporation in a research note on Thursday, October 5th. Robert W. Baird reissued a buy rating and issued a $162.00 price objective on shares of Celgene Corporation in a research note on Thursday, September 21st. Cantor Fitzgerald reissued a buy rating and issued a $162.00 price objective on shares of Celgene Corporation in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reissued a buy rating on shares of Celgene Corporation in a research note on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $150.43.
Shares of Celgene Corporation (NASDAQ:CELG) traded down 10.76% during midday trading on Friday, hitting $121.33. 27,765,072 shares of the stock traded hands. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $147.17. The company has a market cap of $94.92 billion, a price-to-earnings ratio of 37.58 and a beta of 1.88. The stock has a 50-day moving average of $140.79 and a 200-day moving average of $130.41.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Celgene Corporation will post $7.33 earnings per share for the current fiscal year.
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In other news, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrie Curran sold 1,727 shares of Celgene Corporation stock in a transaction on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The disclosure for this sale can be found here. Insiders sold a total of 46,233 shares of company stock worth $6,268,259 over the last ninety days. Corporate insiders own 0.95% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Celgene Corporation by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after acquiring an additional 3,084,227 shares during the period. Vanguard Group Inc. increased its stake in Celgene Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after buying an additional 1,610,056 shares during the period. State Street Corp increased its stake in Celgene Corporation by 2.3% in the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after buying an additional 723,844 shares during the period. Jennison Associates LLC increased its stake in Celgene Corporation by 1.2% in the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock valued at $1,742,301,000 after buying an additional 156,864 shares during the period. Finally, FMR LLC increased its stake in Celgene Corporation by 5.9% in the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after buying an additional 697,250 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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